Product Enhancement and Order Update

RNS Number : 2154U

Verditek PLC

01 April 2021

 

1 April 2021

Verditek PLC

("Verditek" or the "Company")

Product Enhancement and Order Update

Verditek plc, (AIM:VDTK), the international clean technology company that develops, manufactures and sells certified lightweight solar panels, wishes to update the market regarding its planned transition to manufacturing a second generation of its product offering.

By using the latest components available, the Company's first generation product has gradually been enhanced to increase the power output from 260 watts per panel to 288 watts and then to 300 watts. This is for a standard sized panel that comprises 60 photovoltaic cells. After several months of research, the Company is now embarking on the production of a more technically advanced panel that is expected to produce 350 watts per panel. These second generation panels are using far more efficient cells and, because both the power rating has gone up by more than 10% and certain other components are being used in the new panel, new certification is required. The new certification we are aiming for should also cover a wider range of tests and enable wider distribution in more international markets. This process which includes ISO9001 accreditation has recently commenced, and full certification is expected in the second half of the year.

The Company also wishes to update the market that the delivery of the Intergroup Mining order which was first announced on 24 September 2020 has been further delayed. This is due mainly to Covid related delays in delivery of specific components used to join the solar panels together as part of the Company's PowerMat offering. It is expected that this order will be shipped to Australia in the near future.

Rob Richards (Verditek CEO) commented: "We are extremely excited about the development of our second generation panel which we expect to be a world leading product. A full certification process has been commissioned to allow the production to be sold globally in on and off grid locations".

Enquiries:

Verditek plc    Rob Richards, CEO Tim Bowen, CFO	Tel: [phone]
WH Ireland Limited - NOMAD and Broker	Tel: [phone]
Chris Hardie Matthew Chan

About Verditek plc:

AIM listed Verditek plc is a holding company with three businesses operating within the clean technology sector. The Company is focused on commercializing our lightweight low-profile solar panel business. With manufacturing based in Lainate Italy, we have developed renewable power solutions for our customers, that drive solar energy into applications previously unachievable. The exceptional properties of our solar panels replace diesel fuel in business such as perishable goods transport, off-grid telecommunication towers, electric vehicle charging stations, residential and holiday home power solutions and solar roofing for light-weight industrial roofing. In addition to our current PV panels in production, we have partnered with an outstanding leader in graphene technology, Paragraf, and have created the worlds' first Graphene Integrated Photo Voltaic cell. We are working together to engineer the technology for commercialization.

Verditek provides compelling commercial solutions that help to make our customer's businesses sustainable.

For more information please visit or contact the following:  https://verditek.com/

 

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